India, July 6 -- South Korean chipmaker SK Hynix plans to raise up to $29.4 billion by listing its American Depositary Receipts (ADRs) on the Nasdaq in the United States. If the deal goes through at the expected price, it will become one of the biggest share sales in the world. The company is taking advantage of strong investor interest in artificial intelligence (AI) stocks.

SK Hynix is one of the world's biggest memory chip makers and is a major supplier of high-bandwidth memory (HBM) chips, which are used in AI systems. Its customers include Nvidia and Google, which use these advanced memory chips for AI computing.

The company has filed to offer 177.9 million American Depositary Shares (ADSs) on the Nasdaq under the ticker SKHY, acco...